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Hawaii Revised Statutes Division 1. Government § 103D-314

Current as of January 01, 2022 | Updated by FindLaw Staff

<This section is suspended through the disaster emergency relief period. See the Emergency Proclamation for COVID-19 (2019 HI EO P20-23) signed on March 4, 2020, and executive actions issued subsequent thereto.>

Except with respect to firm fixed-price contracts, no contract shall be used unless it has been determined in writing by the chief procurement officer, the head of a purchasing agency, or a designee of either officer that:

(1) The proposed contractor's accounting system will permit timely development of all necessary cost data in the form required by the specific contract type contemplated; and

(2) The proposed contractor's accounting system is adequate to allocate costs in accordance with generally accepted accounting principles.

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Cite this article: FindLaw.com - Hawaii Revised Statutes Division 1. Government § 103D-314 - last updated January 01, 2022 | https://codes.findlaw.com/hi/division-1-government/hi-rev-st-sect-103d-314/

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